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Former real estate agent charged in mortgage swindle
Allegedly Conspired to defraud Well Fargo in $1.2 million scheme

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A former real estate agent from Danville has been charged with a host of felony charges in a scheme surrounding his $1.2 million home.

According to a news release from the Contra Costa County District Attorney's Office, Darren Wessell, 42, purchased his 5 bedroom, 3 bathroom home with a $$1.2 million mortgage in 2005.

In 2011, Wells Fargo Bank was in the process of foreclosing on that home. The news release says Wassell "conspired with a friend to file a fraudulent deed of full reconveyance" -- proof that the home had been paid off -- with the county recorder's Office.

Then, in 2012, Wassell briefly opened and closed a checking account with US Bank, according to the news release. Weeks after the US Bank account was closed, Wassell wrote and mailed a $1,548,600 check to Wells Fargo from the closed US Bank account.

"Needless to say, the check bounced based on insufficient funds," the news release stated.

Wassell faces a maximum sentence of 5 years, 8 months, and has been charged with five felony counts including conspiracy, forgery, burglary, non-sufficient funds checks, and filing false documents. His bail is set at $100,000.

District Attorney Mark A. Peterson said his office is committed to fighting "financial predators."

"This office will prosecute anyone who deceives victims and businesses of their hard earned money in any real estate fraud scheme," Peterson said. "We will not tolerate swindlers."

Wassell was a licensed real estate agent until his license expired in 2010. He is currently Chief Executive Officer of a real estate investment limited liability company, Still Creek Capital, LLC, where he's worked since 2011.

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